MUScoop
MUScoop => The Superbar => Topic started by: Tugg Speedman on February 11, 2015, 10:42:55 AM
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The stickiness in this deal ... if the Kenosha casino causes the Pottawatomie casino to lose money, the state has to make up the losses (by agreement).
Kenosha Casino backers offer $220M toward Bucks arena
http://www.wisn.com/news/report-tribes-offer-200m-toward-arena-if-kenosha-casino-reconsidered/31189722
The Menominee Indian Tribe and Hard Rock International announced the plan Tuesday in downtown Milwaukee.
VIDEO: Menominee ups ante in hopes Walker will change mind on Kenosha casino
Tribal chairman Gary Besaw said the tribe would offer the state $220 million toward construction of the arena. It would also increase its bond from $250 to $275 million to cover any potential state losses from other gambling agreements.
Watch Besaw's full comments here
“We have watched with interest as Gov. Walker has proposed using $220 million in public money to help build a new Milwaukee arena for the Bucks, and we've watched as state legislators, conservative groups and others from throughout Wisconsin and across the political spectrum object to using taxpayer money for such a project when the state is cutting UW funding by $300 million, reducing care for our seniors, lacking money to support public schools and is being forced to borrow hundreds of millions of dollars for our roads,” Besaw said. “Our proposal eliminates a big political problem and creates a major advantage to state taxpayers. We want Wisconsin to stay big-league. But we also want to help make sure state taxpayers don’t bear the financial burden of keeping the team.”
Combined with an estimated $1.2 billion in gaming revenue, Besaw said the tribe's total contribution now totals $1.7 billion.
“This proposal eliminates the need for State taxpayer funds to build a new arena, increases protections and firmly and factually resolves other concerns. It shows the Kenosha casino is truly a win-win-win for Wisconsin,” Besaw said. “We encourage Gov. Walker to give this new information and these new benefits fresh, reasoned and serious consideration -- and meet with us at his earliest convenience upon returning to the state. There are now 1.7 billion good reasons to be a strong leader for Wisconsin and say yes.”
Walker’s final decision on the Kenosha casino proposal is due on Feb. 19. Officials with the U.S. Department of Interior’s Bureau of Indian Affairs told the tribe they would give full consideration to a second review and determination from the governor by that deadline. However Department of Administration Secretary Mike Huebsch said he believes the governor's prior decision is final.
Huebsch told a Madison television station that the Menominee's proposal is "not anything that we're giving any serious consideration to."
Floating the proposal may have an impact. WISN 12 News asked Bucks President Peter Feigin whether he worries it might influence lawmakers who will vote on the governor's arena funding plan.
“Well, I worry (about) anything that takes focus off of the legislation to build this arena. So I will be honest and say I don't like anything that takes focus off,” Feigin said.
The new arena is estimated to cost between $400 million and $500 million.
The Bucks could leave Milwaukee in 2017 if they don't get a new venue.